Important Features Of Travel Expense Management Software

A travel expense management enables an employee to process, submit, file for reimbursements and create reports of employee spending for the company. To make financial and travel reports easier for employees and for the company, look for a system or tool that offers the following features:

Integrated payment

This is one of the features that allow the company to automatically collect an employee’s transaction records from different sources such as company-issued cards, corporate cards and even personal cards that employees use to financially transact while on travel.

Efficient receipt tracking

An effective travel expense management system allows for the employee to easily forward financial transactions related to official or business travels. The app allows an employee to forward or email tracking receipts, for flight tickets and hotel accommodations. This also includes forwarding of receipts for meals, transportation tickets and other related travel expenses.

Creation of standardized expense report

It is important for a company to have a standardized format for submitting financial travel reports for an easier travel expense management process. This is not just for the sake of the employees who are submitting the reports but also for the unit that processes and consolidates these financial reports. Look for a travel expense software that has various categories and one that consolidates all the expenses in a single travel expense report.

Automated reimbursement process

Another feature to check from travel expense management software is its capability to send automatic reimbursement to the employee’s bank account or integrate it with the payroll system. This will minimize disputes and the employee will get the reimbursement in a timely and efficient manner. You can find travel expense management software that sends notification to the finance unit to provide reimbursement or to the employee to submit receipts and related documents.

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By Nikki Sanderson Posted in Business